President Biden, Prime Minister Johnson, President Macron, Chancellor Scholtz and the European Commission President von der Leyen: as the West woke up to Russian incursions into Ukraine, the co-ordinated response began with leaders announcing limited sanctions, with the promise of more.
Their aim – outlined by leaders on podiums and in legislative chambers across Western capitals – was twofold, according to one diplomatic source: to demonstrate to the Kremlin that the West was unified, co-ordinated and resolute and to the stagger the sanctions in order to keep its own ratchet mechanism against an unpredictable adversary.
“We need to keep some sanctions in our locker, both so we can tighten the vice on Russia if it doesn’t deescalate, and so we can respond to further aggression,” said one diplomatic source. “If we do everything now and then have nothing in reserve.”
But the first phase of sanctions was, by any measure, limited, with the US, France, UK, EU and Germany leading sanctions on Russian banks and prominent individuals. The US also announced comprehensive sanctions on Russia’s sovereign debt, preventing the Kremlin from trading new debt in US or EU markets. The UK said it would move on this as part of its future waves of sanctions.
Critics say UK sanctions like bite
Boris Johnson apparently announced limited measures to keep in lockstep with allies, but this “first barrage” of UK sanctions was nevertheless denounced as falling short. Just five medium-sized or small Russian banks and three billionaires – who are already on the US list – close to Vladimir Putin were targeted with sanctions.
Read more:How will the UK help Ukraine battle Russia if Vladimir Putin launches a full-scale invasion?
Who are the three ‘Putin…
Source : skynews
